Is it the right time to buy property in Ahsan Grand City? Find out here!

Is it the right time to buy property in Ahsan Grand City? Find out here!

Ahsan Grand City has been gradually gaining the attention of genuine buyers and long-term investors since the last several years. It appears that the time has come for the investors to get returns on their investments, and for home owners to move ahead with construction of their houses. The society is now in a shape that demands an update.

Project details

It is located on Main Super Highway close to Malir Cant, while Bahria Town, Scheme 33, and DHA City are also located close by. Ahsan Grand City falls in the Cantonment area, which means that land here is sold on a lease of maximum 99 years. However, that doesn’t seem to be a problem for the buyers since the lease is easily extendable and being in Cantt, the investment would essentially be secure, according to Sheikh Rafique of Rafique Property Advisers.

The society was launched back in 2005 by Mushteqam Builders and it has all the approvals granted by the concerned land authority, said Abdul Farhan of Amazing Property Network. The developer has been acquiring land in the meanwhile and it only sold plots against the available land, added Farhan.

Ahsan Grand City comprises nine blocks in total, Blocks A, B, C, D, 1, 2, 3, 4 and 5, which feature residential plots in sizes of 120 yard², 200 yard² and 400 yard².

Development Status

So far, development work in Blocks A, B, and 5 has been completed by over 80 %, making it quite possible for the developer to grant property possession in the blocks by the first quarter of 2018, said Rafique. Being busy with delivering these blocks, the developer is yet to formally start development work in the rest of the blocks, he added. Rafique also said that since Blocks A, B, and 5 are located close to the society’s main entrance, the developer’s focus on these blocks is justified. In addition to that, the developer purchased land for the rest of the blocks many years after acquiring land for Blocks A, B, C, and D, he added.

Farhan believes that as soon as development work gets completed in Blocks A, B, and 5, development work will be initiated in the other blocks. In terms of a completion timeframe, Farhan has the year 2020 in mind.

According to Farhan, the developer has completed carpeting the main roads and is now attending to streets and lanes, while sewerage work has also been started. In the meanwhile, arrangements for getting approvals for electricity, gas, and water connections is also underway.

Market Trends

The society has been sold out and it is now being traded in the secondary market. Property rates of residential plots in the developed housing societies in the neighbourhood is much higher than that of plots in Ahsan Grand City, leaving both Farhan and Rafique hopeful that rates in the society will escalate with the announcement of a possession date.

This is also reflected in the current buying trends, where new buyers are more interested in the blocks where possession is expected to be granted soon, said Farhan.

A look at rates

In the absence of full-fledged development, property rates here remained stable and affordable in the past, but that’s not likely to remain the case in the months to come, Farhan believes. His observations rest on the fact that the demand for residential plots in Blocks A, B, and 5 has gone up among genuine buyers and savvy investors, who are mostly looking to purchase plots enjoying better locations.

Here is the price range:

Plot Size	Price Range
120 yard2	PKR 800,000 – PKR 1,300,000
200 yard2	PKR 1,200,000 – PKR 2,400,000
400 yard2	PKR 2,500,000 – PKR 3,500,000

That was our update on Ahsan Grand City. If you have feedback or questions for us, let us know through your comments. If you wish to discuss more about property here with the experts, we recommend you head to the Zameen Forum.